Intel Tumbles as Chipmaker Falls Further behind in AI Race

Intel slumped more than 12% on Friday following a bleak first-quarter revenue outlook, as the chipmaker plays catch-up in the AI race while also dealing with a weak PC market. While AI is driving a boom in the chip sector, Intel seems to be an exception, analysts said. Semiconductor makers that make chips for the heavy data needs for generative AI were among the biggest winners in the stock market in 2023.

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